Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street, located in Perumbakkam village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - II land classification.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

Between the revisions, the changes were significant. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The guideline value then increased by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, placing Nehru Street's 2024 guideline value above this median.

• Nehru Cross Street: Rs 3,300 per sq.ft (2024)
• Nesamani Nagar: Rs 2,750 per sq.ft (2024)
• Nethaji Nagar 1st - 17th Street: Rs 1,600 per sq.ft (2024)
• Nethaji Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Natesan Street: Rs 1,175 per sq.ft (2024)
• Natarajan Nagar: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street?

Nehru Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Perumbakkam

The guideline value is a crucial factor when registering property in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Nehru Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total stamp duty would be Rs 2,31,000.